Copper Futures Surge to Two-Month High on China Hopes

China's Capital Market Reform Plans Help Reassure Investors

By

Ira Iosebashvili

Updated May 12, 2014 3:12 p.m. ET

Copper prices jumped to their highest level in two months Monday after China unveiled a blueprint for overhauling its capital markets, a move that investors hoped will spark economic growth in the metal's largest consumer.

Copper for May delivery rose 6.6 cents, or 2.1%, to $3.1665 a pound, the highest closing price since March 7 on the Comex division of the New York Mercantile Exchange. It was the biggest percentage gain for the...